The global power industry experienced a 45% drop in company filings mentions of cloud in Q2 2023 compared with the previous quarter, with the highest share accounted for by Siemens with 45% year-on-year decrease, according to GlobalData’s analysis of over 108 power company filings. The growing application of Cloud will prove to have a transformative impact on the power sector. GlobalData’s Cloud Market Size, Share and Trends, Analysis and Forecast report helps keep abreast of the latest trends in Cloud, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, cloud was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of robotics and batteries, according to GlobalData.
Of the top leading companies in the power industry, Siemens had the greatest increase in references for cloud in Q2 2023, compared with the previous quarter. GlobalData identified 11 cloud-related sentences in the company's filings - 2% of all sentences - and a decrease of 45% in Q2 2023 compared with Q2 2022. Adani Transmission’s mentions of cloud rose by 300% to 8 and Enel’s by 53% to 7 and China Resources Power’s by 50% to 2 and Enphase Energy’s by 60% to 2.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for cloud in Q2 2023 was 101.
To further understand GlobalData's analysis on Cloud Computing Market Size, Share, Trends, Analysis and Forecast by IT Infrastructure, Products and Services (Cloud Management Platforms, IaaS, SaaS, PaaS, Hybrid, Managed and Private Cloud Services), Region and Vertical, 2022-2026, buy the report here.